[2020 National Audit] "72% of Nationwide Rental Housing Do Not Know Rental Income"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] It has been revealed that the government is unable to track rental income for 7 out of 10 rental houses nationwide.

According to the 'Status of Housing Lease Information by City and Province' submitted by the Ministry of Land, Infrastructure and Transport on the 13th to Kim Sang-hoon, a member of the National Assembly Land, Infrastructure and Transport Committee from the People Power Party, as of June this year, out of 7,313,205 rental houses nationwide, only 2,070,464 houses (28.3%) had rental income that could be identified.

By city and province, Seoul had the highest rental income identification rate at 47.4%, followed by Gyeonggi at 35.0%, Daejeon at 33.9%, and Sejong at 32.4%. Major metropolitan cities such as Busan, Daegu, and Gwangju all fell below 30%, and in Jeonnam (6.8%) and Jeju (8.4%), it was difficult to even know the rental income for 1 out of 10 rental houses.

In Seoul, the Gangnam 4 districts had a rate of 49.7%, exceeding both the national average and the overall Seoul rate (47.4%). This suggests that the Moon administration's housing price policies were concentrated in Seoul, especially in the Gangnam area. In contrast, in local areas, particularly municipalities outside the metropolitan area and major cities, the rate of identifiable rental income was only in the mid-teens percentage range.

Assemblyman Kim said, "Although the Moon administration pursued various rental business policies and tax reforms, they proceeded without even the most basic rental income data," adding, "I have doubts about whether the various housing-related tax strengthening policies were truly based on reality."

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